Get the latest tech news

Redbox Fails To Pay $4 Million To NBCUniversal As It Fires Its Board

An anonymous reader quotes a report from Cord Cutters News: Earlier this week, Chicken Soup For The Soul, the parent company behind Redbox, Crackel, and the streaming service by the same name, announced that the entire board of directors and board of managers of each subsidiary of the Company other ...

Recently the company has been hit hard by the decline in ad revenue on its free streaming services and the drop in DVD rentals at its Redbox locations. Add on top of that a shaky media environment with cratering ad revenue and quarterly losses, and the company's future is very much in the air. In August, CEO William J. Rouhana said that the company was holding a strategic review to evaluate its opportunities, which is business speak for putting itself up for sale.

Get the Android app